Iraq says in final stages of talks on gas project

Iraq to sign $1.2 bln oil service deal with China

Talks continue for Iraq oil service deal-BP exec

DNO eyes Iraq export license after Q2 tops fcast

Iraq repudiates oil deal with Russia's LUKOIL

Iraq to import fuel from Iran

The Powers That Are Divided among Themselves

House of Saddam

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Billions of cubic meters of gas which come up together with extracted oil have been and still being burnt by Iraq which is an incredible waste. This project planned and started but not finished since over 30 years is really urgent ! 

Iraq says in final stages of talks on gas project, Reuters

BAGHDAD, Aug 19 (Reuters) - Iraq is in the final stages of negotiations with a large global oil company on a joint venture to produce and export natural gas, Oil Minister Hussain al-Shahristani was quoted as saying on Tuesday. "Now we are in the final stages of talks with one of the biggest global companies to establish a joint venture, in which Iraq will hold the largest stake, to collect and produce the gas, to supply electric power and liquify the surplus and export it," Shahristani said in an interview with the an-Noor newspaper.

Shahristani did not mention the name of the company involved. Iraq has been in negotiations for a gas deal with Royal Dutch Shell for several months to collect gas that Iraq burns off at oilfields and Shahristani has previously said he planned to sign the deal this summer.

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If the terms of this service contract are fair to Iraq this is a positive move which should set the trend to future contracts and strengthen the negotiating position of Iraq with IOC's.

Iraq to sign $1.2 bln oil service deal with China, Reuters

By Ahmed Rasheed

BAGHDAD, Aug 19 (Reuters) - Iraq will soon sign its first big international oil deal since the fall of Saddam Hussein, a $1.2 billion oil service contract with China, oil minister Hussain al-Shahristani was quoted as saying on Tuesday. The deal covers a small field producing just 90,000 barrels per day and replaces an earlier deal signed under Saddam. But the terms described by Shahristani give a clue to the tough line Baghdad is likely to take in deals with other foreign firms.

It replaces a production sharing agreement that would have given a Chinese firm a long-term stake in profits from the Adhab oilfield with a services contract in which the Chinese receive fees for work, but Baghdad keeps the future profits.

"We have held talks with (the Chinese) for a year, and the terms of the deal were changed to a service contract. The Chinese have agreed on that, with a value of $1.2 billion," Shahristani told the an-Noor newspaper.

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Talks continue for Iraq oil service deal-BP exec, Reuters

"As far as we are concerned, negotiations continue over the technical service contract," Steve Peacock, president of BP's Middle East and South Asia exploration and production unit, told Reuters. He declined to give further details.

The coordinator for Iraq's economic transition at the U.S. embassy in Baghdad, Charles Ries, said on Sunday that Iraq's government may drop all of the contracts.

Iraq had aimed to sign the deals in June, but disagreement over payment terms and other issues have delayed them.

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Gambling on Iraqi politics

DNO eyes Iraq export license after Q2 tops fcast, Reuters

A Reuters survey of nine analysts predicted a fall to 110 million crowns, with forecasts ranging from 81 million to 141 million, due to decreasing production in Yemen and rising costs.

Unlike most of its peers, DNO did not take full advantage of high global oil prices because it sells the bulk of its oil on local Iraqi markets where prices are lower.

"DNO will face a step change in production volumes once export of oil from the Tawke field (in northern Iraq) is permitted. Until then, DNO expects the working interest production to remain stable," DNO said in a statement.

"Based on the discoveries made during the first six months combined with the exploration programme going forward, the company expects to see a further growth in the reserves and resources during 2008."

DNO has repeatedly said that it expects to win an export license from Iraq sometime during 2008.

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Iraq repudiates oil deal with Russia's LUKOIL, Reuters

BAGHDAD, Aug 19 (Reuters) - Iraq's oil minister has repudiated a Saddam Hussein-era contract with Russia's largest private oil company LUKOIL (LKOH.MM: Quote, Profile, Research, Stock Buzz), saying the contract was "totally unfair," an Iraqi newspaper reported on Tuesday. "Relating to the Russian contract, it was signed with the former regime for political reasons and scrapped by the former regime also for political reasons," Oil Minister Hussain al-Shahristani said in an interview with the an-Noor newspaper.

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Iran enhances its political grip with economic influence

Iraq to import fuel from Iran, Azzaman

Iran has agreed to ferry 1 million liters of fuel to Iraq to meet domestic needs for its rickety power plants, Iraqi ambassador to Tehran said. Mohammed al-Sheikh said the deal under which Iran will furnish Iraq with fuel was signed during the recent visit by Deputy Prime Minister Burhem Saleh to Iran.

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A follow up of Iraqi politics

19 August 2008: The Powers That Are Divided among Themselves, http://www.historiae.org/notebook.asp

Recent events in Diyala provide yet another indication that all is not well inside Iraq’s ruling establishment, especially with regard to its dominant component of Shiite Islamists.

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Blogger corner

House of Saddam, mixmode

House of Saddam is a four episodes TV drama that charts the rise and fall of Saddam Hussein from 1979 to 2003. A co-production between BBC Television and HBO films, the series began on Wednesday 30th July on BBC Two in four parts. I watched episode one of the show, till now, and first impression is having actors with comics-like facial resemblance to the real persons was deliberate - Saddam was much more skinnier that Yigal Naor when he was vice president - Saddam started to gain weight during the Iraq-Iran war. This also include all other characters in the entire show, such as a teenager look-alike Barzan (Saddam half brother), a plumpy funny Ali Hasan Al Majid, and a big headed gloomy-faced Tariq Aziz. Having a handsome Hussain Kamel Al Majid (played by whom I consider a genies and brilliant young Egyptian actor Amr Waked) can prove more to this formula.